Arsenal have suffered a huge set-back in their pursuit of right-back Serge Aurier after reports in France claimed Paris Saint Germain are close to completing the signing of the Ivory Coast International.

The 21-year-old Toulouse full-back has been heavily linked with a move to the Emirates Stadium in recent months following Bacary Sagna's departure – with Liverpool, Tottenham and Queens Park Rangers also reportedly monitoring the situation.

Aurier himself fuelled those rumours a number of times, revealing his passion for Arsenal while retweeting a video posted by a Gunners fan where he seemed to confirm that he was on his way to north London.

However after proving to be a sensation during the recent World Cup a number of big clubs have joined the race to secure his services and according to prestigious French newspaper L'Equipe he is now very close to a move to PSG.

The French newspaper claimed the negotiations between the French big spenders and Toulouse are indeed very advanced, with PSG set to pay around £7m plus midfielder Clement Chantome to secure his services.

Earlier, Aurier claimed that even though his dream choice would be to move to the Premier League he is likely to join the Paris side.

"People said I had already signed an agreement with Arsenal. This is not true. All I can say is that I like the Premier League the most. Playing in England is a dream, but sometimes they do not materialise. If PSG or ASM are keen, I won't ignore that."

"They (PSG) are a very good club, one of Europe's best. They are in the top-eight and me being Parisian makes the link stronger. Apart from that, I will let the competent people around me take care of it.

"It is interesting to know that the club with the means to buy anyone they want are interested in me. I am also Parisian. PSG and Monaco can meet my representatives. We will see what happens. What I want is a club where I am guaranteed to play."

Meanwhile, even though Wenger had been linked with Aurier in recent times he is now looking somewhere else to find a replacement for Sagna.

Arsenal are reportedly on the verge of signing Newcastle star Mathieu Debuchy while IBTimes UK broke news that the Gunners were also in advanced negotiations with Atletico Madrid to secure Javier Manquillo on loan – with the player likely to move to Arsenal but Wenger still trying to convince the La Liga winners to include an option to make the deal permanent at the end of the season.